Checchi Capital Advisers LLC Takes Position in International Paper (NYSE:IP)

Checchi Capital Advisers LLC bought a new position in shares of International Paper (NYSE:IP) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 4,093 shares of the basic materials company’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in shares of International Paper by 28.7% in the fourth quarter. Pacer Advisors Inc. now owns 33,330 shares of the basic materials company’s stock valued at $1,794,000 after purchasing an additional 7,424 shares during the period. Lord Abbett & CO. LLC acquired a new stake in International Paper during the 3rd quarter worth approximately $24,327,000. Aptus Capital Advisors LLC boosted its position in International Paper by 15.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock valued at $292,000 after buying an additional 785 shares during the period. Wedmont Private Capital acquired a new position in shares of International Paper in the fourth quarter worth $376,000. Finally, Curi RMB Capital LLC purchased a new stake in shares of International Paper during the third quarter worth $4,870,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Stock Performance

Shares of IP opened at $56.28 on Friday. The company has a market capitalization of $19.55 billion, a price-to-earnings ratio of 35.85, a price-to-earnings-growth ratio of 0.39 and a beta of 1.02. International Paper has a 52-week low of $33.16 and a 52-week high of $60.36. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average price of $55.67 and a 200 day moving average price of $52.93.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Research analysts predict that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Monday, February 24th. International Paper’s payout ratio is 117.83%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IP. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 target price on shares of International Paper in a report on Friday, January 31st. Truist Financial reissued a “buy” rating and set a $64.00 price objective (down from $65.00) on shares of International Paper in a research report on Friday, January 31st. Bank of America assumed coverage on shares of International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. Finally, BNP Paribas downgraded shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

International Paper Company Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.